FYI:Below is a long-term look at the S&P 500 Energy sector. Earlier this year, the sector experienced a big upside breakout above its pre-financial crisis highs. As shown below, though, that breakout has given way to a breakdown back below those 2007 highs. The sector has also broken below the bottom of its two-year uptrend channel. There's a longer-term uptrend channel still in place that goes back to the sector's lows in 2008. Let's see if it we get a test of that before the end of the year.
Regards,
Ted
http://www.bespokeinvest.com/thinkbig/2014/10/9/sp-500-energy-sector-long-term-chart.html?printerFriendly=true
